Freshii to be acquired by Foodtastic Inc. CanadiansInvest
) today announced that it has entered into an arrangement agreement pursuant to which Foodtastic Inc. will acquire all of the issued and outstanding shares of Freshii for $2.30 per share in cash, representing total consideration of approximately $74.4 million on a fully diluted basis. The consideration represents a 148% premium to the 20-day volume-weighted average price per share for the period ending on December 16, 2022, and a 142% premium to the closing price on December 16, 2022.
Daniel Haroun, Chief Executive Officer of Freshii, continued, “We believe that this transaction recognizes the tremendous value of the Freshii brand. For almost 20 years, our incredibly passionate franchisee and other business partners and team members have been delivering on the mission of making healthy food accessible and building a leading Canadian health food brand.
Since 2005, Freshii has established a healthy food focused franchised restaurant concept which currently operates 343 locations in North America and internationally. All but one of Freshii’s stores are franchised.
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